[Chainlink CCIP is integrated to implement cross-chain WECO transmission for Weset]
Weset, a platform focused on the tokenization of real assets, announced the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) on the BNB chain and the Ethereum mainnet.
Integrating Chainlink CCIP aims to increase liquidity by unlocking new liquidity pools on Ethereum. This will benefit Weset users, potentially providing better exchange rates and a deeper market. According to the announcement, users can now easily cross-chain their WECO tokens between the BNB chain and Ethereum, accessing their preferred decentralized finance (DeFi) platform.
By facilitating cross-chain transfers, Weset simplifies the infrastructure, streamlines the cross-chain process, and provides a standardized solution for WECO transfers. This integration enables Weset to enable more accessible and efficient tokenization of real assets.
CCIP’s programmable token transfer functionality allows for the addition of advanced functionality that enables WECO tokens to execute specific instructions on the target chain. This flexibility allows Weset to expand its cross-chain capabilities and make its infrastructure more future-proof.
The integration with Chainlink CCIP marks the beginning of Weset’s multi-chain journey. The platform plans to cross-chain WECO to other networks such as Polygon and Arbitrum, which may open up more DeFi opportunities for its users. In addition, Weset is also exploring the possibility of integrating other Chainlink services, such as integrating Chainlink price oracles into the Weset market to provide users with reliable and decentralized access to price oracles.
According to on-chain data, 86.8% of Chainlink’s total supply is held above the cost basis at which holders acquired the tokens. This puts Chainlink second only to Bitcoin (98.3%) and Ethereum (95.1%) in terms of supply being in a profitable position. Currently, 425,620 addresses (61% of all LINK holders) are “profitable” according to IntoTheBlock.
Instead, 241,540 addresses (35% of all Chainlink holders) are “in the red,” holding the altcoin at a loss. The contrast highlights that while a few suffered losses, a large number of LINK investors benefited from holding on.
